Thursday, February 25, 2016

Pouring Gasoline On A Dying Fire

Another day, another failed oil rally...

Every time there's an OPEC deal rumour, global risk assets spike higher and then the CNBS party starts all over again:
"Is this the bottom?" 
"How about now?"
"Can you hear me now?"
Serial mega dunces unaware that they say the same bullshit every day.  

Unfortunately there have been no real OPEC deals, nor will there ever be any "OPEC deals", therefore risk assets decline to new lower levels.

Latest oil inventories with WTI:

The bullshit is getting louder, the rebounds are getting shorter, and Leon's getting larger...

The $30 springboard is going to break SOON, it's been tested 13 times on the daily:

"Now this is another IQ test right here..."

With S&P 500:
Skynet hasn't figured out yet that the trend in all things RISK is down, but when it does, look out overnight...